Complete the table below by indicating whether each item a through d would result in the recognition of any revenue or expense in the income statement of Mermaid Inc. $($the company$)$ for the year ended December $31$ of Year $1.$ Assume that the company issued its financial statements on February $15$ of Year $2.$

Contingency Scenario

a$.$ The company issued $$150,000$ of bonds payable at par on January $31$ of Year $2.$

b$.$ The attorneys for the company believe that it is highly probable that the company will win a court settlement in the amount of $$90,000,$ expected to be settled in the second quarter of Year $2.$

c$.$ The company endorsed and guaranteed a $$9,000,15\%,$ one$-$year mortgage note given by a local supplier of merchandise to the company. The bank required a guarantor. The bank indicated that the probability of default by the supplier was reasonably possible.

d$.$ The company was sued by a customer for $$180,000$ in $$amages due to product failure. Legal counsel is of the opinion that it is probable that the plaintiff will prevail in court and that company will have to pay $10\%$ of the claim; it is anticipated that the insurance company will pay the balance. The suit is expected to be resolved by the middle of next year.

$\backslash$table$[[$Item$,$Revenue,Expense$],[$a$.,$$$,0,$$$,0],[$b$.,$$$,0,$$$,0],[$c$.,$$$,0,$$$,0],[$d$.,$$$,0,$$$,0]]$